While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
Fitch Ratings director Thomas Rookmaaker said India's debt-to-GDP ratio is likely to rise to 76 per cent from 70 per cent currently due to wider fiscal deficit and low economic growth.
The rating agency said that the 'Baa3' sovereign rating is supported by credit strengths which include a large, diverse economy, strong gross domestic product growth as well as savings, and investment rates.
Fitch Ratings said with GDP growth of 6.5% and WPI-based inflation of 8.8%, India may have entered into a stagflation period in 2011-12.
India's economy is likely to grow at the slowest rate in a decade this year.
Fiscal and monetary policies have helped India in dodging the recession and sustaining the economy, the research arm of the rating agency Moody's said.
What makes Wonder Women brilliant is the breeziness of the events and issues it tackles without delving on it too much or surrendering to it completely, observes Divya Nair. Wonder Women Review
As India raised its pitch for upgrade of ratings from the current lowest investment grade, Atsi Sheth, vice-president and senior analyst, sovereign risk group, Moody's Investors Service, tells Business Standard that she does not foresee any movement from the current grade in the next 12-18 months.
The retrenchments at the company promoted by Mumbai BJP chief Mangal Prabhat Lodha come at a time when the economic growth has dipped to a six-year low of 5 per cent, which has led many to fear if the spectre of job losses across sectors awaits next.
S&P Global Ratings on Wednesday lowered India's economic growth forecast to 5.2 per cent for 2020, saying the global economy is entering a recession amid the coronavirus pandemic. The agency had earlier projected a growth rate of 5.7 per cent during the 2020 calendar.
Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
India has pipped China to become the world's fastest growing market, thanks to the various "innovative" ways such as infrastructure sharing and network management outsourcing adopted by it that has also helped telecom operators keep the service charge low, says a report.
Prasad, who played 33 Tests and 162 ODIs for India, is set to finish his three-year term as the junior India chief selector in September this year.
Petrol price on Monday was hiked by 30 paise a litre and diesel by 35 paise, taking the total increase in rates in the last one week to Rs 4-4.10 per litre. Petrol in Delhi will now cost Rs 99.41 per litre as against Rs 99.11 previously while diesel rates have gone up from Rs 90.42 per litre to Rs 90.77, according to a price notification of state fuel retailers. Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
For the current fiscal which ends on March 31, it put the real GDP estimate at 5 per cent. It estimated a 7 per cent growth in 2022-23 and 2023-24 fiscal years. The inflation rate was seen moderating to 4.4 per cent in the next fiscal from 4.7 per cent in the current.
Growth forecast has been lowered owing to tepid growth in the first half of 2017-18, the lingering effects of demonetisation, transitory challenges of GST, and some risks to agriculture stemming from a spotty monsoon.
Rohit Sharma and Manish Pandey sparkled with half-centuries but rest of India's batsmen put up a lackluster performance before the bowlers came good to hand the team a 64-run win over a second string Western Australia XI in the warm-up one-day cricket match at the WACA, in Perth, on Saturday.
S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23.
Andrew Symonds, who was 46 and was a member of Australia's World Cup-winning teams in 2003 and 2007, died in a car accident in Queensland.
During a short halt at Tabriz airport in Iran on his way back home, Mukherjee gave Vrishti Beniwali a brief account of the summit, euro zone crisis and what it meant for India.
India was already in the midst of a protracted economic slowdown before the virus hit due to a festering crisis among shadow lenders and declining consumer demand and private investment. Service sector activity in India is still effectively on hold.
Ravi Shastri formally applies for India head coach job.
Manjrekar agreed that match referee David Boon had no option but to allow India a concussion substitute.
France on Friday announced an investment of 2 billion Euros in India as Prime Minister Narendra Modi invited French companies to pump in money in technology in the fastest growing economy.
Fitch Ratings on Monday cautioned that the Indian government has little fiscal headroom at its disposal to respond to possible shocks to growth given the country's lowest investment grade credit rating with a negative outlook. "India's public debt/GDP ratio, at about 87 per cent in FY21, is well above the median of around 60% for 'BBB' rated sovereigns. "We revised the Outlook on India's rating to Negative, from Stable, in June 2020, partly owing to our assumptions about the impact of the pandemic on public finance metrics. "The government has little fiscal headroom at its current rating level to respond to possible shocks to growth," it said in a report.
Gandhi also attacked Prime Minister Narendra Modi over the economic situation in the country, saying the PM should get his head "out of the sand" to deal with the problem facing the country.
Petrol price on Sunday was hiked by 50 paise a litre and diesel by 55 paise, taking the total increase in rates since resumption of daily price revision less than a week back to Rs 3.70-3.75 per litre. Petrol in Delhi will now cost Rs 99.11 per litre as against Rs 98.61 previously while diesel rates have gone up from Rs 89.87 per litre to Rs 90.42, according to a price notification of state fuel retailers. Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
'There is a fiscal crisis building up, which might become apparent when the Finance Commission presents its report,' warns T N Ninan.
Amid rupee sliding below 64 to a dollar, global agency Standard & Poor's on Tuesday said it will maintain negative outlook for the country as currency depreciation is adversely impacting investor confidence.
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
Indian companies will have to repay overseas debt worth $7.5 billion in the June quarter.
Moody's rates India's outlook at stable.
The naming of India's new coach deferred with the Board of Control for Cricket in India's Cricket Advisory Committee announcing on Monday that the decision will take place on a future date after discussions with captain Virat Kohli.
Boman Irani makes his OTT debut with Masoom, and it was good to see the actor on screen after a long time, observes Deepa Gahlot.
The Australian said that he would love to represent SRH again but that is not in his hands.
A look into 10 positive aspects of the Indian economy.
India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested that developing economies must come together to address this bias and subjectivity inherent in sovereign credit ratings methodology. "Never in the history of sovereign credit ratings has the fifth largest economy in the world been rated as the lowest rung of the investment-grade (BBB-/Baa3). While sovereign credit ratings do not reflect the Indian economy's fundamentals, noisy, opaque and biased credit ratings damage FPI flows," the survey said.
India captain Virat Kohli had also made it clear that he and the team will be happy if Shastri was retained.
As Fahadh Faasil turns 39 on August 8, Subhash K Jha looks back at his favourite films featuring the brilliant actor.
